we continue our exclusive interview with michele norsa. been at the helm of ferragamo since 2006, taking it public in 2011. he has just been elected to stay in the post until 2018. we continue the conversation with a look at the company's future. we talked succession, possible m&a, and more. what worries you the most? is it, you know, i always talk about risks and rewards. you need to make sure you give back to shareholders. you need to put a succession plan in place. you are always in constant speculation of being an m&a target. michele: i think it is a major concern for the ceo of a family-public company is to definitely also create value but create value from a long-term. i think it is not be our not companies running after the quarter or we are under pressure to go over turnover. the top line, and so on. what are you trying to build is really sustainable growth in a certain sense. what we tried is to have the confidence of the market. also we believe that from the beginning, we have been very open. talking about, try to explain what wa

we are speaking to michele norsa. he is the ceo of ferragamo. the quintessential italian luxury goods company that it back in 1927. it was family-owned until it went public in 2011. from the opening of the first national stores, the company has expanded to become a key player in the global industry with shops in over 90 countries. thank you for staying with us. we were talking about the challenges. you are talking about the opportunities, geopolitics. what is the one opportunity you cannot miss? is there a target consumer you need to reach? michele: the most difficult is millennials. in fact nobody is very clear , where they start or finish, but roughly 2.3 billion people age 18 to 30, they are moving fast, spending money in a different way. francine: why different? michele: they are always connected, and they are always comparing prices. they are trying to understand things. they are trying to understand what is new. at the same time, they behave conservatively. sometimes they buy products which have already been successful. this is what would

michele norsa has been head of the company since 2011. to the ferragamo ceo about his growth strategy and the future of the italian luxury in a fashion industry. thank you for joining us. let's start the focus on asia. is there still chinese growth for the luxury market? michele: i have no doubt. the number of people who are entering the middle class, the average income of the people, the culture, how they have been able to develop very fast, from luxury, traveling, it is great potential. there is also the traveling aspect. there are more travelers, more curiosity. and changing destinations. they may be modifying spending behavior. francine: to adapt your strategy? do you have to find out how the chinese consumer spends, how the chinese consumer travels? michele: absolutely. i am trying to understand where they travel and where they will go. there has been a clear evolution. from the beginning, only hong kong and macau were the achievable destinations. then you had australia, europe, and sometimes in mexico. a love of traveling. recently

we are speaking to michele norsa . he is the ceo of ferragamo. it was founded back in 1927.it went public in 2011. the company has expanded to become a key player in the global industry with shops in over 90 countries. thank you for staying with us. we were talking about the challenges. you are talking about the opportunities, geopolitics. what is the one opportunity you cannot miss? is there a target consumer you need to reach? michele: the most difficult is millennials. 2.3 billion people age 18 to 30, they are moving fast, spending money in a different way. francine: why different? michele: they are always connected and they are always comparing prices. time, they behave conservatively. sometimes they buy products which have already been six restful. this is what would be interesting to understand. also, the destination of how they will spend time. probably, leaping in a different , the other we will reserve for the future. francine: this is a game changer. how much do we know about how much they look at celebrities, how much they are influenced by what they see on instag